Truvestments Capital LLC Buys 11,571 Shares of Abbott Laboratories $ABT

Key Points

• Truvestments Capital LLC increased its holdings in Abbott Laboratories by 46.3% in the first quarter, now owning 36,570 shares worth approximately $4.85 million.
• Institutional investors collectively own 75.18% of Abbott Laboratories' stock, indicating strong institutional interest in the company.
• Abbott Laboratories recently reported quarterly earnings of $1.26 per share with revenues of $11.14 billion, both figures aligning closely with analyst expectations.

Truvestments Capital LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 46.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,570 shares of the healthcare product maker's stock after purchasing an additional 11,571 shares during the period. Abbott Laboratories makes up about 1.1% of Truvestments Capital LLC's holdings, making the stock its 16th biggest position. Truvestments Capital LLC's holdings in Abbott Laboratories were worth $4,851,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Hughes Financial Services LLC acquired a new position in Abbott Laboratories during the first quarter valued at $27,000. Abound Financial LLC acquired a new position in Abbott Laboratories during the first quarter valued at $28,000. Elequin Capital LP acquired a new position in Abbott Laboratories in the 1st quarter worth about $30,000. JCIC Asset Management Inc. acquired a new position in Abbott Laboratories in the 1st quarter worth about $32,000. Finally, Vision Financial Markets LLC acquired a new position in Abbott Laboratories in the 1st quarter worth about $33,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

NYSE:ABT traded up $1.22 during mid-day trading on Monday, hitting $132.59. 4,430,637 shares of the company's stock traded hands, compared to its average volume of 5,346,421. The firm has a 50 day moving average of $130.99 and a two-hundred day moving average of $131.34. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The firm has a market capitalization of $230.76 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the company earned $1.14 EPS. The company's quarterly revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were given a $0.59 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and upped their target price for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Raymond James Financial decreased their price target on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, July 18th. Evercore ISI upped their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Finally, Wells Fargo & Company decreased their price target on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $144.47.

Insider Activity at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.